liability
liability
noun
/ˌlaɪəˈbɪləti/
(plural liabilities)
1 ​uncountable the state of being legally responsible for something
liability (for something) The company cannot accept liability for any damage caused by natural disasters.
liability to somebody The company has liabilities to its employees.
liability to do something The defendant admitted liability to compensate the claimant.
They have denied liability for the accident.
They have no legal liability for damage to customers' possessions.
SEE ALSO limited liability
Collocations Dictionary
adjective
full
legal
strict
verb + liability
have
accept
acknowledge
preposition
liability for
2 ​countable, usually singular (informal) a person or thing that causes you a lot of problems
Since his injury, Jones has become more of a liability than an asset to the team.
The debate on immigration is proving to be something of a liability for the Prime Minister.
3 ​countable, usually plural the amount of money that a person or company owes
The company is reported to have liabilities of nearly $90 000.
Our financial advisers will concentrate on minimizing your tax liabilities and maximizing your income.
COMPARE asset